• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

3

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

3

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
SuccessTesla

Rivian landed a $5 billion investment after its CEO learned to ignore Elon Musk and learn from Jeff Bezos

Marco Quiroz-Gutierrez
By
Marco Quiroz-Gutierrez
Marco Quiroz-Gutierrez
Reporter
Down Arrow Button Icon
Marco Quiroz-Gutierrez
By
Marco Quiroz-Gutierrez
Marco Quiroz-Gutierrez
Reporter
Down Arrow Button Icon
June 27, 2024, 12:26 PM ET
RJ Scaringe, founder and CEO of Rivian.
RJ Scaringe, founder and CEO of Rivian. Alisha Jucevic—Bloomberg/Getty Images
Add Fortune on Google for similar content.

Rivian CEO RJ Scaringe has always been a go-getter, but he didn’t become successful all on his own.

Recommended Video

As a 26-year-old, Scaringe put it all on the line to launch an electric vehicle company, but he also took money that his dad had offered him after refinancing his home. The company had a strong thesis for the EV of the future, but Scaringe couldn’t have made it a unicorn without the billions of dollars contributed by investors that believed in him.

On Tuesday, Scaringe secured some of his most critical help yet in the form of a $5 billion lifeline from Volkswagen that will likely ensure Rivian’s position for the foreseeable future. 

In reaching the deal, the Rivian CEO once again leaned on others, to his and the company’s benefit. He acted on the sage advice of one of his closest advisers and discarded scathing criticism by his biggest detractor, both of which happen to be some of the most powerful people in the world, according to an interview Scaringe gave to GQ last fall. One of the keys to Rivian’s success was Scaringe’s decision to trust Amazon CEO Jeff Bezos and ignore Tesla CEO Elon Musk, he said.

Disparaging tweets

As the CEO of rival EV maker Tesla, Elon Musk has had plenty to say about Rivian and Scaringe over the years. In 2021, Rivian began manufacturing its R1T electric pickup truck, but soon production slowed to just over one electric truck per day—a development Musk mocked on X, saying, “Prototypes are trivial compared to scaling production and supply chain.” 

Even after the company’s successful IPO gave it a valuation at the time of more than $100 billion, Musk still expressed doubts. 

“There have been hundreds of automotive startups, both electric and combustion, but Tesla is the only American carmaker to reach high-volume production and positive cash flow in the past 100 years,” he posted on X about the EV maker in 2021.

In February, Musk predicted that at its current trajectory, Rivian would be bankrupt in six quarters, or about a year and a half. 

“Maybe that trajectory will change, but so far it hasn’t,” he wrote in a post on X.

In a thinly veiled shot at Musk in October, Scaringe said he takes a different approach to building his company by staying out of the limelight and letting the products do the talking, he told GQ. 

“Making bombastic statements is always a faster way to get a lot of coverage, a lot of clicks, but we don’t have a shortage of demand; we have a lot of people really excited. In fact, our biggest customer complaint today is that we’re not building vehicles fast enough,” he told the outlet.

Instead of focusing on Musk’s comments, Scaringe said he has a single-minded focus on his own company.

“If you’re a race-car driver, and you spend all your time looking at the cars, the left and the right, you’re going to run into the wall,” he told GQ. “When you play the game that we’re playing, we need to focus on the products we’re building.” 

Scaringe, instead, has heeded the counsel of Jeff Bezos, founder and former CEO of Amazon, which invested $700 million in Rivian and ordered 100,000 electric vans from the company in 2019. Bezos was someone Scaringe immediately hit it off with, he said.

“I think he connects with entrepreneurs and people who have an appetite and a tolerance for high risk, and that’s certainly me,” he told GQ of Bezos.

The Amazon executive chairman and his team were also key to helping Rivian grow by asking questions about the company’s strategy, and encouraged Scaringe to think of his business as a game of chess.

“Our objective is to sell many millions of cars a year,” he said. “But you can’t press a button and go from zero to 5 million cars or 10 million cars a year. It takes a lot of buildup. It’s a complex, multidimensional 20-year chess game.”

The Fortune 500 Innovation Forum will convene Fortune 500 executives, U.S. policy officials, top founders, and thought leaders to help define what’s next for the American economy, Nov. 16-17 in Detroit. Apply here.
About the Author
Marco Quiroz-Gutierrez
By Marco Quiroz-GutierrezReporter
LinkedIn iconTwitter icon

Role: Reporter
Marco Quiroz-Gutierrez is a reporter for Fortune covering general business news.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Success

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Success

U.S. Polo Assn. CEO J. Michael Prince
SuccessThe Promotion Playbook
U.S. Polo Assn. CEO was told he wasn’t right for a promotion—so he ‘outworked’ anyone else who wanted the job for 6 months straight
By Orianna Rosa RoyleJuly 1, 2026
7 hours ago
Nikesh Arora, chief executive officer at Palo Alto Networks
SuccessJobs
CEO of $248 billion cybersecurity company says workers are about to face a ‘Darwinian moment’ thanks to AI: Evolve or get cut
By Emma BurleighJuly 1, 2026
8 hours ago
I know how Gen Z can survive the ‘jobpocalypse’ because I built an AI company — in 2015
CommentaryCareers
I know how Gen Z can survive the ‘jobpocalypse’ because I built an AI company — in 2015
By Jeremy FainJuly 1, 2026
12 hours ago
mr
Commentary250 Years of Innovation
America needs 3.8 million manufacturing workers. This CEO has a blueprint to find them
By Mark RayfieldJuly 1, 2026
12 hours ago
Photo: Rocks balancing on driftwood, sea in background.
AIMarkets
Leveraged stock bets are ‘very concentrated in the AI ecosystem,’ Goldman Sachs warns
By Jim EdwardsJuly 1, 2026
13 hours ago
Nike’s earning numbers exceeded Wall Street’s expectations. But CEO Elliott Hill’s next test is the World Cup
RetailNike
Nike’s earning numbers exceeded Wall Street’s expectations. But CEO Elliott Hill’s next test is the World Cup
By Mia OsmonbekovJune 30, 2026
1 day ago

Most Popular

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
7 days ago
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
Big Tech
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
By Marco Quiroz-GutierrezJuly 1, 2026
16 hours ago
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
5 days ago
The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
Newsletters
The Supreme Court's birthright citizenship ruling hands the U.S. economy a $7.7 trillion win
By Diane BradyJuly 1, 2026
14 hours ago
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
Success
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
By Sydney LakeJune 29, 2026
2 days ago
The U.S. Army is opening military bases to private billions — here's why that changes everything for the next 250 years
Commentary
The U.S. Army is opening military bases to private billions — here's why that changes everything for the next 250 years
By Marc AndersenJune 30, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.